The Prince of Wales brings together fish and finance

Representatives of government, the fishing industry, investors and leading conservation groups will gather at St James's Palace at an event titled Financing the Transition to a Sustainable 'Blue' Economy.

The meeting will reveal a report written by The Prince of Wales's International Sustainability Unit (ISU) and the Environmental Defense Fund (EDF) that outlines a framework for investing in the transition to more sustainable fisheries. The ground-breaking research shows that there is a financial return to be had from the transition to a more sustainable management system if fisheries are structured as investable propositions.

Real world examples show financial increases do not have to be at the expense of vital social and environmental benefits for local communities and for fish stocks. For example, in the Pacific halibut fishery, sustainable management interventions led to over a 200% increase in revenues. Likewise, in the important clam fishery in Ben Tre Province in Vietnam, the value increased by almost 50%, increasing incomes and providing around 4,000 more jobs for local fishers.

The World Bank has estimated that, at a global level, some US$50 billion worth of additional value could be derived from the world’s fisheries each year, if they were managed in more sustainable ways.

In a keynote speech The Prince of Wales will warmly congratulate all those present on the progress made towards solutions to the pressing challenges facing our oceans and fisheries. He is expected to say "Economy and ecology do not have to be locked into an irreconcilable struggle……We know from many examples around the world that the transition towards sustainability can deliver a wide range of economic, social and ecological benefits. The transition to sustainable fisheries, therefore, should be seen as a 'no regrets' investment. It requires capital today to ensure that these benefits exist tomorrow."